BOOM! Atlanta Fed raises GDP for third quarter to 4.6 percent

(National Sentinel) Growth: POTUS Donald Trump and the Republican Congress, through regulatory reforms and reduction along with historic tax cuts, have put the U.S. economy into overdrive, and the sky’s the limit.

The Federal Reserve of Atlanta has estimated third-quarter growth at 4.6 percent — up nearly 3 percent from the days of anemic 1.5 – 1.8 percent average growth during the Obama nightmare.

The Atlanta Fed noted:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.6 percent on August 24, up from 4.3 percent on August 16. After yesterday’s releases on new-home sales and costs from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth increased from -4.5 percent to -1.1 percent.

After this morning’s advance durable manufacturing report from the Census Bureau, the nowcast of third-quarter real nonresidential equipment investment growth increased from 6.4 percent to 7.5 percent and the nowcast of the contribution of inventory investment to third-quarter real GDP growth increased from 1.92 percentage points to 2.03 percentage points.

Granted, this is just an estimate, but understand that these people study and analyze economic indicators for a living. And their estimates are generally accurate.